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EF

Empirical Finance Portfolio holdings

AUM $2.13B
1-Year Est. Return 29.56%
This Fund
S&P 500
This Quarter Est. Return
+9.68%
1 Year Est. Return
+29.56%
3 Year Est. Return
+97.59%
5 Year Est. Return
+123.59%
10 Year Est. Return
–
AUM
$2.1B
AUM Growth
+$190M
Cap. Flow
+$38M
Cap. Flow %
1.81%
Top 10 Hldgs %
36.85%
Holding
514
New
6
Increased
458
Reduced
19
Closed
8

Top Buys

Rank Stock Value
1
TSM icon
TSMC
TSM
+$4.04M
2
ET icon
Energy Transfer Partners
ET
+$2.79M
3
CVX icon
Chevron
CVX
+$2.76M
4
AMZN icon
Amazon
AMZN
+$2.63M
5
MS icon
Morgan Stanley
MS
+$2.52M

Top Sells

Rank Stock Value
1
HES
Hess
HES
+$2.32M
2
BTI icon
British American Tobacco
BTI
+$2.3M
3
IVAL icon
Alpha Architect International Quantitative Value ETF
IVAL
+$2.05M
4
MOOD icon
Relative Sentiment Tactical Allocation ETF
MOOD
+$1.86M
5
GOOG icon
Alphabet (Google) Class C
GOOG
+$1.75M

Sector Composition

Rank Sector Weight
1 Technology 31.99%
2 Financials 11.76%
3 Communication Services 10.34%
4 Consumer Discretionary 9.7%
5 Healthcare 8.78%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CDNS icon
126
Cadence Design Systems
CDNS
$93.8B
$3.34M 0.16%
9,520
+88
+0.9% +$30.3K
BMY icon
127
Bristol-Myers Squibb
BMY
$135B
$3.33M 0.16%
73,755
+703
+1% +$32.8K
CAAP icon
128
Corporacion America
CAAP
$4.32B
$3.23M 0.15%
177,987
+38,660
+28% +$779K
HCA icon
129
HCA Healthcare
HCA
$86.8B
$3.12M 0.15%
7,322
+49
+0.7% +$19K
ELV icon
130
Elevance Health
ELV
$82B
$3.1M 0.15%
9,598
+89
+0.9% +$27.7K
NOC icon
131
Northrop Grumman
NOC
$78.4B
$3.1M 0.15%
5,082
+46
+0.9% +$26.1K
NKE icon
132
Nike
NKE
$61.6B
$3.02M 0.14%
43,339
+376
+0.9% +$28K
MMM icon
133
3M
MMM
$93.6B
$3.02M 0.14%
19,436
+175
+0.9% +$27K
NGVC icon
134
Vitamin Cottage Natural Grocers
NGVC
$750M
$3.01M 0.14%
75,279
+27,000
+56% +$1.04M
TX icon
135
Ternium
TX
$9.88B
$3M 0.14%
86,499
+25,068
+41% +$822K
MDLZ icon
136
Mondelez International
MDLZ
$79.2B
$3M 0.14%
48,024
+448
+0.9% +$28.9K
VLO icon
137
Valero Energy
VLO
$88.9B
$2.93M 0.14%
17,196
+4,583
+36% +$683K
WM icon
138
Waste Management
WM
$90B
$2.9M 0.14%
13,112
+124
+1% +$27.9K
SHW icon
139
Sherwin-Williams
SHW
$87.8B
$2.89M 0.14%
8,352
+79
+1% +$27.9K
BNY
140
Bank of New York Mellon
BNY
$106B
$2.89M 0.14%
26,522
+227
+0.9% +$23.2K
PNC icon
141
PNC Financial Services
PNC
$101B
$2.87M 0.14%
14,262
+131
+0.9% +$25.9K
GD icon
142
General Dynamics
GD
$104B
$2.76M 0.13%
8,090
+86
+1% +$27.1K
AGM icon
143
Federal Agricultural Mortgage
AGM
$2.62B
$2.75M 0.13%
16,375
+4,690
+40% +$878K
FISV
144
Fiserv Inc
FISV
$29.7B
$2.71M 0.13%
20,987
+173
+0.8% +$24.8K
MSI icon
145
Motorola Solutions
MSI
$73.5B
$2.69M 0.13%
5,879
+57
+1% +$25.7K
MEDP icon
146
Medpace
MEDP
$16.1B
$2.67M 0.13%
5,196
-1,778
-25% -$776K
EMR icon
147
Emerson Electric
EMR
$89B
$2.66M 0.13%
20,301
+182
+0.9% +$24.8K
MCO icon
148
Moody's
MCO
$83.8B
$2.66M 0.13%
5,576
+54
+1% +$27.2K
HWM icon
149
Howmet Aerospace
HWM
$115B
$2.65M 0.13%
13,498
+132
+1% +$24.1K
PYPL icon
150
PayPal
PYPL
$50.1B
$2.59M 0.12%
38,592
+301
+0.8% +$21.2K
4 5
6
7 8

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AAP
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BCM
Basswood Capital Management New York $2.12B AUM 19.53% 1-Year Est. Return
SC
SouthState Corp Winter Haven, Florida $2.14B AUM 18.39% 1-Year Est. Return
NAAA
New Age Alpha Advisors Rye, New York $2.15B AUM 27.2% 1-Year Est. Return
IVAV
Index Venture Associates VI St. Helier, Channel Islands, Jersey $2.11B AUM 13.76% 1-Year Est. Return
GA
General Atlantic New York $2.15B AUM 35.02% 1-Year Est. Return
HJGA
Hardman Johnston Global Advisors Stamford, Connecticut $2.1B AUM 41.89% 1-Year Est. Return
CF
Centaurus Financial Anaheim, California $2.1B AUM 21.28% 1-Year Est. Return

Empirical Finance's Q3 2025 Portfolio in Review

As of Q3 2025, Empirical Finance held 514 positions worth $2.1B, up 10% from $1.91B the previous quarter. Its ten largest holdings account for 37% of the portfolio.

Trading was light in Q3 2025: portfolio turnover was 2.7%. Empirical Finance opened 6 new positions and exited 8, leaving the 514-position portfolio largely intact.

By sector, the portfolio is most concentrated in Technology at 32% of assets, up from 31% a quarter earlier, followed by Financials and Communication Services.

  • Empirical Finance's largest Q3 2025 buy was Diageo: 11,089 shares worth $1.06M.
  • Empirical Finance added most to TSMC in Q3 2025, an estimated $4.04M increase.
  • Empirical Finance's biggest Q3 2025 reduction was Alpha Architect International Quantitative Value ETF, cutting an estimated $2.05M.
  • Empirical Finance fully exited Hess in Q3 2025, selling an estimated $2.32M.
  • Empirical Finance's ten largest holdings make up 37% of its $2.1B portfolio in Q3 2025.
  • Empirical Finance opened 6 new positions and closed 8 in Q3 2025.
  • Empirical Finance's portfolio value rose 10% quarter-over-quarter to $2.1B.

Based on Empirical Finance's 13F filing for Q3 2025, filed 13 Nov 2025.